Business

Miami Leads Nation in Hotel Occupancy, Rates, and Revenue

There are 8,000 new hotel rooms expected to be built over the next five years in Miami-Dade. That will add to a total hotel room inventory in the county that's already well over 50,000 rooms, but apparently we'll need them all. Turns out Miami hotels lead the nation in key statistics like occupancy, rate, and profitability. 

That's what Rolando Aedo, Greater Miami Convention & Visitors Bureau senior VP of marketing and tourism, tells Miami Today. The information comes from industry tracker Smith Travel Research. 

As of April, the average daily occupancy in Miami was 84.2 percent. 

The average rate for a hotel room here is $241.70 per night, and out of that rate, hotels take an average revenue of $203.49 to the bank each time. 


The hotel inventory here also is growing by about 3 percent, compared to a national average of 1 percent. 

In 2015 alone, 2,500 new rooms have been or will be built. Notable hotels that have opened or will open in 2015: 
  • The Hyatt Centric South Beach Miami, which just opened Monday. The hotel at 1600 Collins Ave. has 105 rooms. 
  • The AC Hotel Miami Beach at 29th and Collins also recently opened. 
  • The 1 Hotel and Homes Miami Beach which opened in the old Gansevoort. 
  • The East Miami, which is expected to open at Brickell City Center later this year. It will be Swire Properties' first hotel in America and will have 263 rooms. 
  • The Faena Hotel Miami Beach in the old Saxony Hotel in the Faena District"in mid-Beach will open later this year. 
  • The Nautilus Hotel at 1825 South Beach will open its 250-room property in July. 
  • The Aloft South Beach will open next week at 2360 Collins Ave. with 235 rooms. 
  • The 164-room Hall at 15th and Collins is expected to open later this year. 
And those are just the fancy ones.
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Kyle Munzenrieder